Crypto-linked stocks crashed on Dec. 15 as concerns over U.S. debt and rising funding costs unsettled markets, extending a risk-off mood already seen in technology and AI market.
Investors have grown cautious about assets tied to growth, leverage and long-term funding, with crypto stocks among the first to feel the pressure.
U.S. stocks closed lower on Monday.
On Dec. 16, stock futures slipped as traders turned cautious ahead of November’s U.S. jobs report, which is expected to show slower hiring and could influence the Federal Reserve’s interest-rate outlook.
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Shares of several companies with crypto exposure fell.
Freight Technologies (FRGT) led the decline, plunging 19.01% to $2.43, followed by Bitcoin miner Argo Blockchain (ARBK), which slid 17.61% to $5.66. Sharps Technology (STSS) fell 17.16%, while Ming Shing Group (MSW) — a Bitcoin treasury firm — dropped 16.45%.
Mining stocks were among the hardest hit. Mawson Infrastructure (MIGI) sank 16.05%, while CleanSpark (CLSK) shed 15.07%, wiping out hundreds of millions in market value despite heavy trading volume.
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Crypto services firms were not spared. Coincheck Group (CNCK) declined 15.22%, while Lion Group Holding (LGHL) and Classover Holdings (KIDZ) fell 14.32% and 14.30%, respectively.
Ebang International Holdings (EBON), a crypto mining and hardware firm listed on Nasdaq, dropped around 1.4%. WisdomTree (WT), which issues crypto exchange-traded products, slid roughly 1.3%, while Block, which holds Bitcoin on its balance sheet, fell about 1.1%.
Crypto markets were not immune to the broader risk-off move. According to CoinGecko data, the global cryptocurrency market cap hovered near $3.05 trillion, down slightly on the day.
Bitcoin fell to around $86,900, while Ether slipped below $3,000. Several major altcoins also traded lower, with losses spread across large-cap tokens and smaller projects.
The pullback followed a period of strong gains and appeared driven more by macro uncertainty than by crypto-specific news.
The Crypto Fear & Greed Index published by Alternative.me stood at 11, placing it firmly in the “Extreme Fear” zone.
Rising concern about U.S. government debt has pushed investors toward safer assets, increasing pressure on risk-heavy markets.
